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When is there an equilibrium wage?
When there is no excess in demand for workers and in supply of workers (By Solomon Zelman)
The theory that wages are based on the supply and demand for a worker's skills is the?
Its based on supply and demand READ THE BOOK CALL Principles and demand
Point where demand and supply meet?
The point where supply and demand meet is called market equilibrium.
How does supply and demand explain the wage gap between petroleum engineering and sociology majors?
The wage gap between petroleum engineering and sociology majors can be largely explained by the principles of supply and demand. Petroleum engineers are in high demand due to the specialized skills required and the industry's significant financial resources, leading to higher wages. In contrast, sociology majors typically face a larger supply of graduates and lower demand for their skills in the job market, resulting in comparatively lower salaries. This imbalance between the supply of qualified workers and the demand for specific expertise drives the wage differences observed between these two fields.
When demands exceeds supply is called what?
supply or demand <3
When is there an equilibrium wage?
When there is no excess in demand for workers and in supply of workers (By Solomon Zelman)
The theory of wages are based on supply and demand for a worker's skills is called what?
market theory of wage determination.
If the supply of workers and demand for workers is at an equilbrium what would be true?
there is no pressure to raise or lower wages.
The theory that wages are based on the supply and demand for a worker's skills is the?
Its based on supply and demand READ THE BOOK CALL Principles and demand
When did migrant workers start and why?
Migrant Workers began working in the 18th century. They work when one country does not have enough workers to supply the demand.
Point where demand and supply meet?
The point where supply and demand meet is called market equilibrium.
How does supply and demand explain the wage gap between petroleum engineering and sociology majors?
The wage gap between petroleum engineering and sociology majors can be largely explained by the principles of supply and demand. Petroleum engineers are in high demand due to the specialized skills required and the industry's significant financial resources, leading to higher wages. In contrast, sociology majors typically face a larger supply of graduates and lower demand for their skills in the job market, resulting in comparatively lower salaries. This imbalance between the supply of qualified workers and the demand for specific expertise drives the wage differences observed between these two fields.
When demands exceeds supply is called what?
supply or demand <3
What happens to the equilibrium wage when the demand for workers is high and supply is low?
Wage goes down.
What happens when demand for workers is high and supply is low to the equilibrium wage?
Wage goes down.
What generally happens to the equilibrium wage demand for workers is high and supply is low?
Wage goes down.
What generally happens to the equilibrium wage when demand for workers is high and supply is low?
Wage goes down.
